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The "Unicorn Kingdom's" AI White Paper
The UK's pro-innovation AI White paper has been published. It landed almost simultaneously with an open letter from the Future of Life Institute which called for a six-month halt in work on AI systems more powerful than the generative AI system: GPT-4.
Read moreNew developments in AI may put law firms at greater risk of phishing fraud
As the computing power of Artificial Intelligence continues to grow exponentially, we consider how generative technology may expand the reach of traditional phishing frauds aimed at law firms.
Read moreProperty Digital Rights – A New Revenue Stream in a Digital World
Advances in technology are opening up exciting new frontiers for property owners and managers. Almost two billion people globally use augmented reality (AR) on their mobile phones and nearly 400 million engage in a virtual metaverse reality.
Read moreContext is everything – key takeaways on green claims from the CMA's recent consumer law conference
On 28 June 2023, the Competition and Markets Authority (CMA) held a highly anticipated conference on consumer law and enforcement. RPC's Senior Partner Oliver Bray was invited to speak on green claims alongside a stellar panel comprising Anna Jewitt (CMA), Justine Grimley (Advertising Standards Authority (ASA)), Tim Rowe (Financial Conduct Authority), and Rupert Earle (Bates Wells).
Read moreClimate-related financial disclosures: what companies and LLPs need to know about the UK's new mandatory rules
The UK's new climate-related financial disclosures: mandatory requirements to come clean
Read moreHow to comply with the FCA's new diversity and inclusion targets for listed companies
The FCA has finalised its new rules on diversity and inclusion on listed company boards and executive committees. The rules, which are set out in the FCA's policy paper PS22/3: Diversity and inclusion on company boards and executive management, are substantially in line with the proposals set out in the FCA's consultation paper CP 21/24. In scope listed companies are required to include a statement in their annual financial report on whether they have met specific board diversity targets on a ‘comply or explain’ basis, as at a chosen reference date within their accounting period.
Read more'Big Plastic' is an emerging climate risk and a ticking time-bomb for litigation
The tangible commitment to plastics regulation and action will likely trigger a new wave of plastics-related litigation.
Read moreShell directors facing potential UK ESG shareholder derivative lawsuit
In the wake of COP26, more focus than ever is being given to the climate risks which apply to every aspect of business. Scrutiny of a company's climate awareness and adherence to applicable regulation is at the forefront of minds of companies' stakeholders.
Read moreESG claims in the banking and financial markets Sector: will "greenwashing" claims soon be common in the UK?
Environmental, Social and Governance "ESG" funds are an attractive avenue for investors seeking responsible investment choices.
Read moreLloyd's' focus on a more sustainable future
Lloyd's published its first Environmental, Social and Governance (ESG) Report at the end of last year and while this is a fairly new focus area for Lloyd's it noted that: a) in its history it has a long record of contributing to communities and helping them to recover from disaster; and b) the role that insurance plays in protecting society and supporting global economic growth.
Read moreThe rise of ESG finance
ESG (Environmental, Social and Governance) finance remains a hot topic and continues to grow rapidly, with Bloomberg predicting the $2.2 trillion ESG debt market to hit $11 trillion by 2025, based on the rate of growth during the past five years.
Read moreBalance on the board: Eight things UK PLCs need to know about the FCA's diversity targets
The Financial Conduct Authority's proposals will mean UK listed companies need to disclose whether their boards and senior management teams meet new gender and ethnic diversity targets.
Read moreFCA set to expand climate-related reporting rules
The FCA has revealed it will consult on plans to require asset managers, life insurers and FCA-regulated pension schemes to meet climate-related disclosure rules. In doing so, the FCA is expanding the scope of firms required to report on climate-related risks in accordance with the recommendations of the Task Force on Climate-related Financial Disclosure (TCFD).
Read moreTime for public companies to come clean: New UK climate-related disclosures and ESG guidance
Companies listed on the London Stock Exchange's Main Market will need to include a statement in their annual report confirming if they have made climate-related disclosures consistent with the recommendations of Task Force on Climate-related Financial Disclosures (TCFD). Companies planning to IPO, or move from AIM to the Main Market, are also affected by these new Listing Rules.
Read moreNavigating the impact of AI on work: challenges, opportunities, and the human touch
The fear of job losses because of technology and automation, including artificial intelligence, has been with us since the 1960s. For some time, academics have predicted the decline of routine, rules-based and process-driven roles.
Read moreVirtual billboards: the future of immersive advertising?
With the deployment of immersive technologies poised to become the norm, the implementation of infrastructure for "virtual billboards", and the "property digital rights" which they demand, is demonstrating a lucrative gap in the market and huge growth potential.
Read moreThaler v Comptroller [2023] UKSC 49: the UKSC rules that AI cannot be an 'inventor'
To the surprise of no one, the UK Supreme Court (UKSC) has finally ruled that an artificial intelligence (AI) cannot be an inventor for the purposes of UK patent law. This judgment accords with the decisions of the lower courts in the UK and the initial ruling of the UKIPO. It also reflects similar findings from most of courts around the world where the claimant, Dr Thaler, brought similar actions.
Read more12 top tips for using AI in retail and consumer businesses
Last year, we set out our top ten tips for retailers entering the metaverse. This year, AI is the hot topic in retail and pretty much everywhere else! AI is redefining the retail and consumer industry. It can improve consume engagement, aid decision-making, curate tailored promotions, improve efficiencies, and reduce costs. So what do retailers and consumer bran need to be mindful of when deploying AI?
Read moreEU AI ACT-ion stations
The EU is forging ahead with its vision for AI. With wrapping up talks on the EU AI Act between the EU governments, the Commission and the parliamentary negotiators imminent, we bring you up to date on the EU's risk based approach, the scope of the Act, a timeline, key points that will form the basis of the discussions and next steps.
Read moreWhat To Know About AI Fraudsters Before Facing Disputes
Fraudsters are quick to weaponise new technological developments and artificial intelligence is proving no exception, with AI-assisted scams increasingly being reported in the news, including most recently one using a likeness of a BBC broadcaster.
Read moreThe November 2023 AI safety summit and the UK's direction of travel
The government has confirmed that the UK AI safety summit will be held at Bletchley Park on 1 and 2 November 2023.
Read moreGenerative AI and intellectual property rights—the UK government's position
The IPO is to produce a code of practice by the summer that will provide guidance to support AI firms in accessing copyright protected works as an input to their models.
Read moreUnderstanding and managing the risks in artificial intelligence (AI) technology projects
How do you go about managing the risks and challenges that might arise during the deployment of AI technology?
Read moreAI technology projects – the regulatory landscape
Parties engaged in AI technology projects should be mindful of the regulatory landscape, and the changes taking place within it. A failure to do so could result in an AI solution that is not compliant from a regulatory perspective, the use of which potentially creates risk for the technology provider and user.
Read moreA matter of interpretation – the Supreme Court look at contractual interpretation once more
In their recent Judgment in Sara & Hossein Asset Holdings Ltd (a company incorporated in the British Virgin Islands) v Blacks Outdoor Retails Ltd [2023] UKSC 2 the Supreme Court adopted a commercially balanced interpretation of a lease; rejecting the overly textual approach of the Court of Appeal in favour of reading the relevant clause in the context of the lease as a whole.
Read moreNo bouncing back for directors
Banned! Fraudsters! – Terms used by the Insolvency Service for directors who abused the government backed loan scheme which was put in place to help businesses struggling during the pandemic.
Read moreCourt considers requirements for a condition precedent to litigation in Local Authority application
In Lancashire Schools SPC Phase 2 Ltd v Lendlease Construction (Europe) Ltd [2024] EWHC 37 (TCC) a local authority failed in its application to have the claim against it stayed or struck out on the basis of non-compliance with a contractual dispute resolution mechanism.
Read moreCode of Conduct for Leasing of Retail Premises to take effect from 1 February 2024
Following from the passing of the Lease Agreements for Retail Premises Bill which mandates compliance with the Code of Conduct for Leasing of Retail Premises in Singapore ("Code") for qualifying leases of retail premises earlier this year, the Lease Agreements for Retail Premises Act ("Act') is expected to take effect from 1 February 2024.
Read moreFirst out the traps: Dissecting the first remediation order under the Building Safety Act
Our non-contentious construction team have recently contributed an article to Practical Law considering the first remediation order made by the First-tier Tribunal under section 123 of the Building Safety Act 2022 in Waite and others v Kedai Ltd (2023) LON/00AY/HYI/2022/0005 & 0016.
Read moreThe fit-out problem
An article considering the insurance strategy of fit-out works, which looks at co-insurance following the Court of Appeal's judgment in FM Conway Ltd v The Rugby Football Union and others [2023] EWCA Civ 418, the approach under JCT contracts, public liability insurance and the tenant's liability.
Read moreChoppy waters ahead? The significance of Oceanfill
The economic outlook for the UK in 2023 remains uncertain, and more companies may need to restructure their businesses to ensure survival. This
Read moreRegister of Overseas Entities – one month since the deadline and thousands still face penalties from failure to register
The Economic Crime (Transparency and Enforcement) Act 2022 ("the Act") enacted in March 2022 brought into force the register of overseas entities on 1 August 2022. Companies House holds and manages the new register which was introduced to provide greater transparency around UK land ownership. The transitional period ended on 31 January 2023, and as at 3 March 2023, 26,481 out of an estimated 32,440 have registered. Thousands of companies are still to register over a month on from the end of the transitional period, so we've turned our minds to consider the possible consequences of not registering, or delaying registering, as an overseas entity in accordance with the Act, including the potential for the Proceeds of Crime Act 2002 to apply.
Read moreTwo-stage procurement: some key considerations for PCSAs
In our previous blog post, we introduced two-stage procurement and two key options for documenting it (a pre-construction services agreement (PCSA) followed by a separate main works contract and a Combined PCSA/Main Contract) noting that the differences were generally presentational or mechanical. For the purposes of this post, we will refer only to the PCSA and main contract option, but please note that the same principles apply to the Combined PCSA/Main Contract.
Read moreCladding and Valuation: Important RICS guidance under consultation until 31 October 2022 – have your say!
The consultation is part of RICS' plan to introduce a new professional standard for valuing properties in multi-storey, multi-occupancy residential buildings with cladding. This will take the form of an RICS-approved technical guidance note, with the objective of supporting an effective homebuying market.
Read moreTwo-stage procurement
In a recent survey undertaken as part of the RIBA Construction Contracts and Law Report 2022, it was reported that over a third (37%) of respondents had used two-stage procurement over the last 12 months. We are similarly seeing two-stage procurement being used more and more in the construction industry, particularly for major building projects. In fact, the majority of recent development projects we have advised on in the UK were procured on a two-stage basis.
Read moreRegister of Overseas Entities – Register now to keep transactions running smoothly
The Economic Crime (Transparency and Enforcement) Act 2022 ("the Act") has been enacted as part of the Government's drive to increase transparency in the ownership of UK land. Companies and other legal entities governed by the law of a country or territory outside of the UK which own land in the UK satisfying certain requirements, or wish to own such land, must now register information with Companies House. A new Register of Overseas Entities ("the ROE") has been created and certain details of the registered overseas entities and their beneficial owners are available to the public.
Read moreBusiness Rates – an unpopular tax imposed in unfortunate circumstances
It is almost trite to say that retailers have had a tricky time over the last 20 months. The combination of enforced closures, and more recent supply chain difficulties and staff shortages have left them reeling. On 1 July the business rates holiday ended and, although rates will be discounted by up to 2/3rds for smaller retailers until March 2022, most will come under increased pressures. It is unsurprising that many are calling for a complete overhaul of the business rates system.
Read moreWhat about the arrears?
On 4 August 2021 the Government published a policy statement clarifying their announcement made on 16 June 2021 in relation to the extension of the forfeiture moratorium, the ringfencing of COVID-19 commercial rent debts and the introduction of a binding arbitration process. The Government has also published its own response to the views of over 500 respondents to the call for evidence.
Read moreThe Forfeiture Moratorium has been extended – But what about the arrears?
On 16 June 2021 the Government announced that it is drafting legislation to ringfence outstanding unpaid rent that has accrued during the pandemic in order to protect jobs and give businesses breathing space to recover.
Read moreThe risks of going large (again)
In our July 2020 article , we looked at the case of Hart and Hart v Large, which concerned a survey undertaken by Mr Large for the Harts.
Read moreCLC issue new Guidance on dispute resolution in the construction industry
COVID-19 continues to cause significant disruption and delay to the construction industry. Whilst things are slowly returning to normal and construction sites are resuming work, there are concerns that the effect of the pandemic on projects may result in long-running and costly disputes arising. Accordingly, the Construction Leadership Council (CLC) have issued guidance in an effort to promote a more pragmatic approach to dispute resolution.
Read moreHart v Large: Important guidance for surveyors when advising prospective purchasers
The judgment in Hart v Large provides important guidance on the scope of a surveyor's duty when advising prospective purchasers. It also highlights that the courts may be willing to depart from the usual measures of loss, in order to achieve what they consider to be a fair outcome.
Read moreThe curse of COVID strikes again – implementation of the Home Survey Standard delayed
As a result of the lockdown imposed in response to the COVID-19 pandemic, the new RICS Home Survey Standard, which was due to be implemented next month has now been delayed until December 2020. Whilst this will allow practitioners more time to become familiar with the new standard, it causes an unwelcome disruption to the introduction of a measure that should provide greater clarity for both surveyors and consumers of what is expected when commissioning and conducting a home survey.
Read moreLockdown inspections: Guidance from the RICS
The RICS has issued two sets of guidance to its members focusing on physical inspections. The guidance builds on the most recent government advice regarding appropriate conduct and the timetable for lifting restrictions.
Read moreTop 10 for the 10s Claims against surveyors and valuers
The 2010s started with an influx of valuation claims, primarily involving lenders seeking to recoup losses suffered as a result of the financial crisis, loans being made to sub-prime borrowers and the declining property market.
Read moreRICS Guidance and Key Developments for Surveyors: #2 Coronavirus, valuations and "material uncertainty"
The recent lockdown has posed a serious challenge to the UK housing market, with the present and future potential impact of COVID-19 on the market inviting comparisons to the post-2008 recession.
Read moreImpact of COVID-19 on telecommunications apparatus
With COVID 19 keeping individuals and businesses in various states of lockdown around the world, the importance of telecommunications in keeping the country connected, both professionally and socially, has been thrown into sharp relief.
Read moreLease frustration and COVID-19
Frustration of a contract occurs due to a supervening event meaning the contract is no longer capable of performance. If frustration is found to have occurred, the contract is automatically terminated.
Read moreRetailers: new government measures to provide further protection for tenants against aggressive rent collection.
When the Coronavirus Act 2020 (the "Act") received royal assent on 25 March 2020, commercial tenants across the country were afforded some relief.
Read moreRICS Guidance and Key Developments for Surveyors: #1 Changes to the RICS Minimum Terms
In this series of articles, we will be addressing a number of the key risks and challenges that face surveyors and valuers in the current climate.
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